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Anti-Money Laundering
EU Proposes to Make AML Compliance a Licence Condition
By Editors | 05/06/2022
EBA, EIOPA and ESMA propose that AML/CTF compliance be a specific requirement for firms, including crypto firms, to obtain and maintain their licences.
Stablecoins
Japan Approves Law Clarifying Legal Status of Stablecoins
By Manesh Samtani | 05/06/2022
Under the revision bill, only licensed banks, trust companies, and registered money transfer agents will be able to issue stablecoins.
Cryptocurrency
Korea FSS Probes Use of Crypto by Payment Firms
By Manesh Samtani | 04/06/2022
Regulators also plan to launch a ‘Digital Assets Committee’ this month to bring additional safeguards and regulatory structure to Korea’s crypto industry.
Market Abuse
CFTC Files Suit Against Winklevoss-founded Crypto Exchange
By Editors | 03/06/2022
The CFTC says Gemini misled the regulator about whether it could prevent manipulation in the prices used as a benchmark for a bitcoin futures contract.
CBDCs
Fed Explores CBDC Impacts on Monetary Policy Implementation
By Manesh Samtani | 02/06/2022
CBDC withdrawals could reduce bank reserves, which would result in competition for funding, higher interest rates, and ultimately a larger Fed balance sheet.
Tokenisation
UnionBank Issues Philippines’ First DLT-based Digital Bond
By Editors | 02/06/2022
The issuance follows a POC project to optimise bond issuance workflows between STACS and PDTC, the Philippines’ national CSD for debt and equities.
Market Abuse
Ex-OpenSea Employee Charged for Insider Trading in NFTs
By Editors | 02/06/2022
The former product manager traded on confidential information about which NFTs were going to be featured by OpenSea’s website.
Tokenisation
SGX CDP Enables Access to DLT Bond Issuance Platform
By Editors | 02/06/2022
CDP has made available to market participants a blockchain-enabled bond issuance platform developed by Marketnode, a joint venture between SGX and Temasek.
Stablecoins
UK Proposes Framework for Dealing with Stablecoin Failures
By Editors | 02/06/2022
HM Treasury proposes to give the BOE powers to appoint administrators to oversee insolvency arrangements with failed stablecoin issuers.
CBDCs
BOJ Releases Phase One Findings from CBDC Testing
By Editors | 01/06/2022
Phase one of CBDC experimentation was conducted from April 2021 to March 2022. The BOJ tested three CBDC ledger design alternatives.
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